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Applications for U.S. unemployment benefits rose to the highest level since October 2021, adding to evidence that the labor market is gradually cooling.
Initial unemployment claims increased by 22,000 to 264,000 in the week ended May 6, Labor Department data showed Thursday. The reading was higher than all estimates in a Bloomberg survey of economists.
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Despite job openings and increasing unemployment, employers are having a hard time filling roles formerly occupied by non-American workers.
Most workers say they are satisfied with their jobs, but a new survey finds rising anxiety about the labor market, AI-driven job losses and financial stress.
Many degrees allow graduates to earn good money while working to make AI-related technology better.
Employers are growing cautious about expanding their staff, while at the same time mostly holding onto their existing workers.
Job cuts mirror early pandemic levels, and more people than ever are working multiple jobs to keep up with economic needs.
